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How to Setup POS?

Step-by-Step Instructions

Part 1: Create and Enable the POS Lead Provider Campaign

  1. Log in or switch to your System Administrator role.
  2. Go to Settings.
  3. Click Lead Providers.
  4. Click Create New Lead Provider.
  5. In the Name field, enter POS or a name that is easy to recognize.
  6. Click Save.
  7. You will be taken back to the Lead Providers screen. Click the list menu icon next to the POS lead provider.
  8. Click Create New Campaign.
  9. Enter a Campaign Name and Campaign Code.
  10. Click Save.
  11. If you would like to organize different POS lead sources or workflows, you can click Create New Campaign to create additional campaigns.
  12. Click the Edit pencil icon next to the campaign you just created.
  13. Click the Members tab to view and manage the teams assigned to this campaign. You can add available teams by clicking the + button or remove existing ones as needed.
  14. Configure the Compensation tab if your company uses the LendingPad pricing engine.
  15. Click the POS tab and toggle Enabled on.
  16. Click Save when finished. 

Part 2: Configure POS Settings

  1. Go to Settings.
  2. Search for POS or click POS from the left-hand menu.
  3. Click POS Settings.

  4. Click the Access menu and choose the option you would like to use: Disabled, Basic, or Full.

    Basic means users can only invite borrowers to existing loan files already created in the LOS by going to Actions at the top of the loan file and clicking Invite Consumer. When borrowers access the POS, they will only be prompted to enter their email address and loan number. Company and LO-specific POS links for creating new loan files are not available with this option.

     Full allows for additional customization and provides both company and LO-specific POS links for borrowers creating new loan applications.

  5. If you are using Full access, click the Campaign field and select the campaign where POS has been enabled. If the dropdown is blank, please refer to the guide on How to Create Lead Providers with POS Access.
  6. Designate a team with the Loan Assistant user role, if applicable. If a borrower uses the company POS link and does not select a loan officer, the file will be routed to the designated Loan Assistant team’s pipeline instead of appearing in every loan officer’s pipeline. The Loan Assistant can then assign the file to the appropriate loan officer.
  7. Configure the Loan Types section to define which loan products are available for consumer-facing pricing inquiries if POS > Actions > Pricing Provider is enabled.
  8. Toggle Subject Property Disabled on if you do not want borrowers to enter the subject property address. Please note that City, State, and ZIP Code will still be required in the borrower portal to help determine county conforming loan limits and company/LO state license requirements, if enabled.
  9. Toggle Loan Officer Selection Disabled on if you do not want borrowers to select a loan officer when using the company’s POS link.
  10. Click Add Program to set up loan programs if you would like borrowers to select a program during the application process. The selected program information will sync back to the LOS under Additional Data > Consumer Information.
  11. Toggle Allow Customizations on if you would like loan officers to customize their personal POS link landing page.
  12. Click Save.

Part 3: Configure POS Actions

  1. To enable borrowers to pull credit reports through the borrower portal or use the pricing engine in the borrower portal, click the Actions tab.
  2. Click + Add New Action.
  3. Choose Credit Report or Pricing Provider.
  4. Click Contact and select the applicable vendor or provider.
  5. Set Credit Card Information Required to Yes or No based on whether borrowers must enter credit card information to pull credit reports.
  6. You can also enter a disclosed or estimated cost for individual and joint credit reports.
  7. Follow the same steps to set up the pricing provider by selecting a contact and completing the applicable fields.
  8. Click Save.

Part 4: Customize Borrower Portal Display

  1. Click the CMS tab to customize the borrower portal landing page. Please refer to this KB for more details: How to customize the POS using CMS.
  2. Click the Loan Statuses tab to customize the loan statuses shown in the borrower portal. The Status column shows the current system status, and you can update the display Name to better match your company’s workflow or borrower-facing terminology.
  3. Click Save when finished. 

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**Update 8/21/2021:** If a Loan Assistant is selected, the system will assign all unassigned POS loans to that Loan Assistant by default. The Loan Assistant can then allocate loans to individual loan officers. Previously, all unassigned loans were visible to all loan officers with access to the selected campaign.

10. Copy the link located under the POS tab to share with borrowers or embed on your website. Please note: This is a company-specific link. Consumers must select a loan officer associated with the POS campaign. Unassigned loans will be visible to all users assigned to the POS campaign. System Administrators can view and manage borrower accounts through the “Consumers” tab.

11. Once the POS component is enabled, it will appear as an option in the Actions dropdown in the upper right corner of the loan file. An email will be sent to the borrower, generating a loan-specific link. Do not share this link with other borrowers or files. Upon sign-up, borrowers can upload documents to the specific loan file within the “Consumer Uploaded Docs” section in the Document panel.

12. Each loan officer is assigned an individual POS link. When borrowers use this link, the loan will be created in that loan officer’s pipeline. This link is accessible via Profile > POS in the left-side menu.

13. **Update 4/25/2022:** System Administrators now have the ability to restrict borrowers from entering their address in the POS system. To enable or disable this feature, go to Settings > POS > Settings and use the associated toggle.

14. **Update 7/9/2022:** Credit Authorization and E-Consent are now included in the POS. At the bottom of the SUBMIT section in the POS file, borrowers can select credit authorization and/or E-Consent authorization. Relevant documents are generated under the Initial Disclosures loan document type, and Consumer Information is available under the Additional tab.

In Settings > POS > Settings > Content, a default language is provided for the Borrower's Authorization and Disclosure E-Consent. System Administrators can modify this text to meet company requirements.

**Update 9/16/2023:** Terms of Service and Privacy Policy are now customizable for the borrower’s view during account creation. Please note: This content is managed between your organization and your borrowers. LendingPad does not supply default language. Consult your legal or compliance personnel for appropriate language. Refer to the Privacy Policy & Terms of Service video for further information.

By default, the system will restrict borrower access once the loan reaches the “Application Taken” status. This setting can be adjusted in Settings > User Roles > Consumer User Role > Loans Tab > Manage POS Loans. Only listed statuses apply. When a borrower submits their application, data entry capability is locked. Access can be restored by removing the borrower submission date in the Overview > Dates > Critical Dates section.